When it comes to investing in real estate investment trusts (REITs), the industry is generally broken down into property type groupings. Vici Properties (NYSE: VICI), which owns casinos, and W.P. Carey (NYSE: WPC), which owns a diversified portfolio with a heavy emphasis on industrial assets, don't often get compared to each other. But at their core, they do very similar things. So if you're looking at Vici, you might also want to consider W.P. Carey. Here's why.

The common thread between Vici and W.P. Carey is the use of net leases. That means these REITs own properties, but their lessees are responsible for most of the day-to-day operating costs of an asset. While any single property is high risk, given there's only one tenant, across a large enough portfolio the risk is fairly low. (More on this topic in a moment.) Although Vici's focus on casinos is vastly different from W.P. Carey's sector-diversified investment approach, they share a very common element. 

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Source Fool.com